Stephens Reaffirms “Overweight” Rating for Fidelity National Information Services (NYSE:FIS)

Stephens restated their overweight rating on shares of Fidelity National Information Services (NYSE:FIS) in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has a $90.00 target price on the information technology services provider’s stock.

FIS has been the topic of a number of other reports. The Goldman Sachs Group started coverage on shares of Fidelity National Information Services in a research report on Thursday, February 29th. They set a buy rating and a $84.00 price target on the stock. Royal Bank of Canada increased their target price on shares of Fidelity National Information Services from $67.00 to $75.00 and gave the company an outperform rating in a report on Tuesday, February 27th. BNP Paribas downgraded shares of Fidelity National Information Services from an outperform rating to a neutral rating and set a $72.00 price target for the company. in a research note on Thursday, April 11th. Morgan Stanley raised their price objective on Fidelity National Information Services from $73.00 to $77.00 and gave the company an overweight rating in a research note on Tuesday, February 27th. Finally, UBS Group increased their target price on Fidelity National Information Services from $66.00 to $70.00 and gave the company a neutral rating in a report on Tuesday, February 27th. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Fidelity National Information Services presently has an average rating of Moderate Buy and a consensus target price of $74.63.

Fidelity National Information Services Stock Up 5.5 %

Shares of NYSE:FIS opened at $74.31 on Tuesday. The firm has a market capitalization of $41.73 billion, a PE ratio of -6.61, a price-to-earnings-growth ratio of 0.88 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.75 and a current ratio of 0.75. Fidelity National Information Services has a 52-week low of $46.91 and a 52-week high of $75.71. The firm has a fifty day moving average of $70.79 and a 200 day moving average of $62.91.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings data on Monday, May 6th. The information technology services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.14. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Fidelity National Information Services had a positive return on equity of 13.06% and a negative net margin of 54.30%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.29 EPS. As a group, research analysts anticipate that Fidelity National Information Services will post 4.71 EPS for the current fiscal year.

Fidelity National Information Services announced that its board has authorized a stock repurchase program on Monday, February 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Fidelity National Information Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Monday, June 10th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Monday, June 10th. Fidelity National Information Services’s payout ratio is currently -12.81%.

Insider Activity at Fidelity National Information Services

In other news, Director Jeffrey A. Goldstein acquired 775 shares of Fidelity National Information Services stock in a transaction on Monday, April 15th. The stock was acquired at an average cost of $72.37 per share, for a total transaction of $56,086.75. Following the purchase, the director now owns 9,052 shares in the company, valued at $655,093.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Manchester Capital Management LLC increased its holdings in Fidelity National Information Services by 6.8% in the 1st quarter. Manchester Capital Management LLC now owns 2,233 shares of the information technology services provider’s stock worth $166,000 after buying an additional 143 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in Fidelity National Information Services by 14.4% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,317 shares of the information technology services provider’s stock worth $79,000 after purchasing an additional 166 shares during the last quarter. CKW Financial Group grew its position in Fidelity National Information Services by 10.5% in the 1st quarter. CKW Financial Group now owns 2,100 shares of the information technology services provider’s stock worth $153,000 after purchasing an additional 200 shares during the period. Penbrook Management LLC lifted its holdings in shares of Fidelity National Information Services by 5.1% during the 1st quarter. Penbrook Management LLC now owns 4,124 shares of the information technology services provider’s stock valued at $306,000 after buying an additional 200 shares during the period. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Fidelity National Information Services by 9.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,417 shares of the information technology services provider’s stock worth $134,000 after buying an additional 203 shares during the last quarter. Hedge funds and other institutional investors own 96.23% of the company’s stock.

About Fidelity National Information Services

Fidelity National Information Services, Inc engages in the provision of financial services technology solutions for financial institutions, businesses, and developers worldwide. It operates through Banking Solutions, Capital Market Solutions, and Corporate and Other segments. The company provides core processing and ancillary applications; mobile and online banking; fraud, risk management, and compliance; card and retail payment; electronic funds transfer and network; wealth and retirement; and item processing and output solutions.